Corsair related stories
All articles and analysis
Carlyle collects $1bn for ‘bad bank’ fundThe New York-based firm is raising $3bn for its financial services-focused fund. TPG and JC Flowers are also looking to invest in the sector.
- TPG slashes finance fund by 25%
A $6bn fund targeting financial services closed last year will downsize to $4.5bn in commitments. TPG is telling investors an influx of US government rescue cash to the sector has diminished opportunities.
- Kohlberg to pay reduced price for US catering service Centerplate
The price of the merger, originally valued between $185m and $205m, was reduced to an undisclosed amount due to Kohlberg’s inability to secure financing.
- MatlinPatterson to invest $250m in ailing bank
The New York-based private equity firm has agreed to buy a 70% stake in Flagstar Bancorp as long as the US government injects $250m from the Troubled Assets Relief Program in the bank.
- National City balks at financing Kohlberg deal
The Corsair Capital-backed bank has declined to extend $175m in debt for Kohlberg & Company’s acquisition of sports caterer Centerplate. Last month, National City agreed to a $5.2bn government-backed merger with PNC Financial Services Group.
- Choosing battles
The image of private equity firms on both sides of the Atlantic asking for bailout money weakens the industry’s position on the carried interest debate, writes Christopher Witkowsky.
- PNC to buy Corsair-backed National City for $5.2bn
Corsair Capital will be made whole on its investment in National City because of an anti-dilution provision, according to a source. The US Treasury will take a $7.7bn stake in the combined entity.
- Corsair-backed National City stock plunges 63%
The Midwest regional bank’s trading price has tumbled following the collapse of the proposed $700bn federal bailout plan.
- TPG’s WaMu stake hits new low
The Seattle savings and loan’s stock price is down 74 percent, spelling a paper loss of more than $1.4bn for TPG.
- CapGen to invest $100m in PacWest Bancorp
This is the second bank deal for the New York private equity firm, registered as a US bank holding company. It comes amid increased interest in the role that private equity firms can play with cash-strapped US banks.